Submitted by Charles Hugh Smith from Of Two Minds Who Benefits When Bubbles Burst? Blowing speculative bubbles cannot possibly lead to organic growth because speculative bubbles fatally undermine the real economy. An astute reader recently...Show More Summary
Senate Republicans make noises about reining in runaway EEOC [Roger Clegg, Senate minority staff report, Human Resource Executive Online] Yes, minimum wage increases hurt many low-skilled workers [NBER via Charles Hughes] “Women earn...Show More Summary
Charles Hughes A new study from the Illinois Policy Institute analyzes the welfare benefits package available at different levels of earnings in that state. The authors find that low-income workers have limited economic incentive toShow More Summary
``Why will Christmas 2014 be the last Christmas in America? It's simple: declining wages cannot support an ever-expanding mountain of debt.''
Charles Hughes Last week, Republican Governor Bill Haslam announced a plan to expand Medicaid in Tennessee. Republican governors in Wyoming and Utah have also put forward expansion plans in the past month. A recent Washington Post editorial...Show More Summary
``The game has been lost, but central bankers are still on the field, wandering around in disbelief that their unspeakable powers to issue money and credit have failed. You can print all the money you want, but it will never boost wages to keep up with prices. ''
Charles Hughes A new working paper from the National Bureau of Economic Research finds that significant minimum wage increases can hurt the very people they are intended to help. Authors Jeffery Clemens and Michael Wither find that significant...Show More Summary
``The price drop is a head-fake: it doesn't usher in a new era of permanently cheap oil. Rather, it unleashes dynamics that impair supply on multiple levels: geophysical, geopolitical, demographic and financial.''
Charles Hughes The administration is considering a rule change that would allow the government to automatically change some people’s exchange plans to a cheaper alternative. HHS recently proposed regulations that would let exchanges offer alternative default options for enrollees. Show More Summary
Charles Hughes Broken promises and lowered expectations littered the first year of the Affordable Care Act. When the law was being debated, Obama promised the law would cut health care premiums for a typical family by $2,500. Instead, premiums everywhere continued to rise, in some places they skyrocketed. Show More Summary
Charles Hugh Smith from OfTwoMinds.com says Fed policy and its direct influence on wealth inequality in the US has now become a mainstream issue; Russell Napier says to expect another deflationary shock in the next couple years followed by a massive reflation by China...
Submitted by Charles Hugh Smith via Peak Prosperity blog, What can popular television programs tell us about the zeitgeist (spirit of the age) of our culture and economy? It’s an interesting question, as all mass media both responds to and shapes our interpretations and explanations of changing times. Show More Summary
Submitted by Charles Hugh Smith from Of Two Minds The Critical Difference Between Rentier Wealth and Wealth Creation If you want to understand why our economy is stagnating and wealth inequality is rising, look at the rise of rentier skims and the resulting decline in wealth creation. Show More Summary
Last week, psychiatrist turned conservative pundit Charles Krauthammer went on The Hugh Hewitt Show and diagnosed President Barack Obama as a “clearly a narcissist.”
Fox contributor Charles Krauthammer declared on The Hugh Hewitt Show that President Obama is "clearly a narcissist," pointing to the president's use of the words "I" and "my." However, one example he provided is inaccurate while another was also used by Obama's predecessor, President George W. Show More Summary
Columnist Charles Krauthammer joined radio host Hugh Hewitt today to diagnose what he believes the problem is with President Obama: he's a narcissist who surrounds himself with yes-men.
Columnist Charles Krauthammer slammed President Obama for his self-obsession and for surrounding himself with “sycophants” in an interview set to broadcast on Monday’s “Hugh Hewitt Show.” “I decided when I left psychiatry never to use my authority. Show More Summary
Submitted by Charles Hugh Smith from Of Two Minds Stocks Have Reached a Permanently High Plateau A permanently high plateau of stock prices is a marvelous innovation. Somebody said this before, of course, but one glance at a chart of the S&P 500 tells us that stock prices have reached what looks like a permanently high plateau. Show More Summary
From Charles Hugh Smith’s Of Two Minds blog: It’s starting to feel like a $5 bill is the new $1 bill: everything that could be purchased with one or two dollars not that long ago is now $5 or even $10. A few days ago I was enjoying the Butte County Fair in California’s farm […]
Charles Hughes New Census data shows that the number of households receiving welfare benefits hit a record high of almost 33.5 million in the fourth quarter of 2012. While part of the surge was due to the recession, the proportion receiving benefits has increased from 25.2 percent to 27.4 percent since the recession officially ended in June 2009. Show More Summary